Bank stocks break out, VN-Index convincingly surpasses 1,730 points

Closing the trading session on December 3, the stock market continued to maintain an exciting uptrend when the VN-Index gained nearly 15 points, officially surpassing the 1,730 mark and closing at 1,731 points.

Banks lead the wave, VN-Index extends 6-session strong increase streak

This is the sixth consecutive increase, helping the index accumulate a total of about 70 points in just one week. The key driving force still comes from the strong breakthrough of banking stocks, which is the main support to push the index up even when many pillars of Vingroup fell deeply.

In the morning session, VN-Index traded in red at times due to technical correction pressure after a long increase. However, this development did not last long when cash flow quickly returned to the banking and consumer goods groups, pushing the index up more than 20 points at its peak. The increase was extended in the afternoon session with green covering the market: the entire floor recorded 225 stocks increasing, double the number of stocks decreasing; the VN30 basket had 19 stocks increasing, while the number decreasing was less than half.

According to VNDirect statistics, 8/10 stocks that contributed the most to today's increase belonged to the banking group. The most prominent was CTG, which at one point hit the ceiling price of VND52,400 before cooling down to +6.01% at the close. BID, VCB, VPB, MBB also increased by 2-5%, contributing greatly to maintaining the index's rhythm. This was a rare "rise" session for the banking group after a long period of accumulation and adjustment.

CTG's momentum comes as VietinBank prepares to issue the largest stock dividend in the banking industry in 2025, with a scale of nearly 2.4 billion shares, equivalent to an issuance ratio of 44.64%. This information has triggered a large cash flow into stocks, causing CTG's liquidity to skyrocket.

Besides CTG, many other bank codes also made a strong impression: MBB increased by 4.46%, VPB increased by 4.67%, BID increased by 4.21%,ACB increased by 2.09%, MSB increased by 2.76%, LPB increased by 2.32%, ABB increased by nearly 7%. Overall, the entire banking group recorded an increase of nearly 3%, becoming the most prominent bright spot of the session.

Not only the banking group, retail stocks also exploded, with the average increase of the whole industry reaching nearly 5.9%. MWG increased by 5.9%, FRT increased by the ceiling of 6.97%, MSN increased by 2.54%, helping this group become one of the strongest drivers supporting the index.

However, the overall market performance was not consistent as Vingroup-related stocks were the factor holding back the index’s growth. VIC fell 2%, VRE lost 1.15%, VPL fell 3.66%. Groups of Gelex-related stocks and Vietjet Air’s VJC (-1.79%) also traded less actively, somewhat narrowing the overall market gain towards the end of the session.

Liquidity was an important highlight in the December 3 session. The HoSE matched value reached over VND29,500 billion, an increase of nearly VND6,000 billion compared to the previous session and the highest level in the past month. Investors focused on disbursing into large-cap stocks, as shown by the VN30 basket accounting for over 50% of the total market liquidity. The entire floor had four codes with a trading value of over VND1,000 billion, including SHB, MBB, MWG and CTG.

A notable point is that foreign investors traded dramatically with a net buying value of up to 3,700 billion VND on HOSE, focusing most on VPL stocks and the banking group. VPL alone was net bought for more than 3,200 billion VND, becoming the focus of foreign capital attraction. In addition, foreign money also poured into MBB (257 billion VND), VPB (197 billion VND), CTG (168 billion VND), MWG (165 billion VND), SHB (110 billion VND)...

In the whole market, foreign investors disbursed nearly VND6,600 billion while the selling value was less than VND3,000 billion, a large difference showing that foreign investors' sentiment is very positive. They also focused on buying more stocks with strong liquidity such as MSN, SAB, BAF, ACV, C4G, CII, VGI and NTL.

In other sectors, the performance was divergent within a narrow range. Securities stocks maintained a slight increase, in which VCI led with an increase of nearly 2% to 34,650 VND; other codes such as HCM, VND, ORS, SSI increased by 0.2-1.8%. The real estate group also recovered following the general trend, especially small-cap codes such as LDG, NBB, QCG, CII when they increased again by more than 1.5%; mid-cap codes such as NLG, KDH, NVL also increased by more than 1%.

Despite the strong market performance, active buying and selling power remained balanced, reflecting investors’ cautiousness after a long rally. However, the large cash flow into the banking and retail sectors is creating an important support base for the market, helping the VN-Index consolidate its upward trend.

With a series of 6 consecutive increasing sessions and explosive liquidity, the market is showing positive signals about cash flow, in which the banking group plays the role of "locomotive" leading VN-Index to move closer to higher resistance zones in the coming time.

Source: https://thoibaonganhang.vn/co-phieu-ngan-hang-but-pha-vn-index-vuot-1730-diem-day-thuet-phuc-174594.html